On the May Silver futures, from this morning high of 46.04, that appears to be five waves down on the 5 min chart. Don't know if that is an aberration or a valid wave structure within the greater structure.
Thank you for expressing your thoughts, they help bring clarity! DennisP
Hi Dennis, I see silver futures in a rectangle with another internal up wave to complete. The decline from 46.04 completed a 3-wave which is the 4th internal. Once the rectangle is complete the downtrend will resume.
Steve
ReplyDeleteOn the May Silver futures, from this morning high of 46.04, that appears to be five waves down on the 5 min chart. Don't know if that is an aberration or a valid wave structure within the greater structure.
Thank you for expressing your thoughts, they help bring clarity!
DennisP
Hi Dennis, I see silver futures in a rectangle with another internal up wave to complete. The decline from 46.04 completed a 3-wave which is the 4th internal. Once the rectangle is complete the downtrend will resume.
ReplyDelete